Newspaper Editorials – The Hindu Editorials Vocab 24×7 Set 44

Newspaper editorial vocab 24x7 set-44

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A wider net: on the expanding tax base (Newspaper Editorials Vocab 24×7 Set 44)

Hey, readers! I am Anjali Sharma and I warmly welcome you all to our page. I hereby represent the editorial section of “The Hindu” newspaper dated January 31st, 2018. The Editorial discusses what steps should be taken by the Finance Minister, Arun Jaitley to decrease the share of indirect taxes as the tax base is enlarged now.

The Editorial

The demonetization took place in the country and it diminished the value of the currency notes that were earlier holding the highest worth. This step of demonetization somehow instigated the overall tax filling in the country. Due to this the profits in terms of indirect and direct fronts, it is depicting the key objects behind the two major economic positive outcomes. After the note ban it was recorded that about 59 millions of individuals who were filling the income tax returns or the ones whose tax were deducted from the source itself in 2015-16, there was an unseen elevation in the figure of the tax fillers by 10.1 million. According to the survey conducted it was nearly estimated that 1.8 million or 3% of the already existing collators have started paying them off. As reported many tax-payers have their income that is equal to ₹ 2.5-lakh it may act as a doorway for the personal income tax and this will not enlarge the finances by far. It can be assumed that it grips the potent growth as the fresh taxpayer development in their profession. As the personal income tax compilations are anticipated to increase to a significant rise of 2.3% of GDP in 2017-18, in comparison with the 2% between 2013-14 and 2015-16. It is discovered from the economic survey that there is 50% increase in the unique direct taxpayers in the first six months just after the GST was introduced. The Indian Government now craves for a plan that will boost the direct tax graph by curtailing the overall exemptions for professions like farming and those who are deploying the large ardent deflectors. It is required now that the government should appraise the tax base expansion by providing the ‘complaint’ to receive some relaxation in the Budget; it can be also seen as the imposition of high duties on petroleum products. As it is crystal clear that rise in indirect taxes will definitely push the lower middle class and poor groups in the well of poverty.

In addition to this, I am sharing vocabulary from the editorial section which will prove to be a helpful source for our aspirants.

To read the full editorial: http://www.thehindu.com/opinion/editorial/a-wider-net/article22597938.ece

Vocabulary:

Stripped (verb)

Meaning: something that has minimal significance

Synonym: reduced

Antonym: maximum

Sentence: it was a stripped-down budget that was announced.

 

Vocations (noun)

Meaning: the particular job or work which someone is doing

Synonym: profession

Antonym: avocations

Sentence: his vocation is to treat the patients of the hospital that is he is a doctor.

 

Chinks (noun)

Meaning: a weak spot or point

Synonym: downfall

Sentence: his project report included some minor chinks that turned into major ones.

 

Exacerbated (verb)

Meaning: to make it serious

Synonym: complicate

Antonym: improve

Sentence: His loud comments have exacerbated stress in the negotiation process.

 

Woes (noun)

Meaning: to express grief or anger

Sentence: He might have found a solution to his financial woes

 

Pruning (verb)

Meaning: to remove unwanted parts

Synonym: cut

Antonym: extend

Sentence: The budget needs to be pruned.

 

Slashing (adjective)

Meaning: anything that is reduced

Synonym: reduce

Antonym: increase

Sentence: Funding for the program was slashed.

 

Strides (verb)

Meaning: a long that is step taken

Synonym: positive outcomes

Antonym: shuffle

Sentence: The Company has matched its competitors stride for stride.

 

Exchequer (noun) 

Meaning: term related to treasury

Synonym: money

Antonym: liabilities

Sentence: the government exchequer were not used for that project.

 Sources: The Hindu Editorial

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Newspaper Editorial Vocab 24×7 Set-43

 

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